HelpjournalsClosing Entries
Closing Entries
Transfer revenue and expense balances to Retained Earnings at year-end.
beginner· 3 views· Updated 7/18/2026
At the end of a fiscal year, AkountFly automatically posts closing entries to transfer revenue and expense balances. Revenue and expenses are moved to an income summary, and the net income is transferred to retained earnings.
To review these entries, navigate to More Tools in the sidebar, select All Transactions (General Ledger), and filter by 'Closing'.
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